No it does not, I've tried. Nor does the IoT settting.
Yes. If you are using Verizon 5G Home Internet with a supported router, then you can certainly configure a 2.4GHz Wi-Fi home network. For example, I have a WNC-CR200A (Verizon provided router) and I have 2.4GHz and 5GHz Wi-Fi networks setup.
What model of router are you using?
